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Listen to this article in summarized format SP Group will decide whether to raise ₹3,500 crore for repayment or request for additional time to meet the repayment deadline, the people said. Read more: Nifty may rebound to 23,800; Rupak De picks Apollo, Laurus Labs and Eternal for the week Given a clear exit path for SP Group lenders through listing of Tata Sons, lenders would be receptive for an extension of the September 30 payment timeline, said people familiar with the developments. SP Group had raised ₹28,500 crore through NCDs in May 2025, at Porteast, which were backed by a pledge of a 9.2% stake in Tata Sons. The bonds were originally priced at 19.75%. The refinancing comes as Shapoorji Pallonji Group's debt investors gain greater visibility on a potential value-unlocking event at Tata Sons following the Reserve Bank of India's rejection of Tata Sons' application to voluntarily surrender its core investment company registration. Read more: Inside NSE IPO journey: Why India's largest exchange took 10 long years to reach Dalal Street SP Group had raised about ₹15,200 crore through three-year rupee-denominated zero-coupon bonds issued by Eqyizen Investment at a yield of 18.95%, alongside a $650 million bond issued by Mercury Finance at 14.5%. The instruments were raised largely against the group's Tata Sons holding. Funds raised at the Eqyizen level were used primarily to refinance about ₹16,500 crore of rupee bonds at Goswami Infratech. This request from SP Group would follow the regulatory rejection of a Tata Sons request for de-registration as an NBFC. Investor demand for SP Group debt has improved, with recent trades tightening and investors indicating that the earlier 18%-19% IRR reference level is no longer relevant following positive developments around Tata Sons, people familiar with the matter said. Apart from Porteast, Equizen financing also carries a deleveraging covenant requiring repayment of at least ₹13,500 crore within 24 months of issuance. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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